About S_Pagratis

At a recent New York Times article, it was argued that the value of free warrants offered to participating shareholders in the capital increases of the big three Greek banks constitutes a large wealth transfer from the Greek state to … Continue reading →

Greek banks, like their international peers, have not simply faced the unfortunate consequences of an externally imposed crisis. Coordination problems and perverse incentives in the banking sector, often exacerbated by short-termism in government policies and objectives, led to perpetuation of … Continue reading →